[General_Ledger]

I am seeing different calculation from Becker vs Wiley for Rental Vacation Home.

For mortgage interest and real estate taxes, w/ personal use and rented out more than 15 days.

Wiley

(No. of days rented / total days used) x mortgage interest = amt deductible

Becker

(No. of days rented / 365) x mortgage interest – amt deductible

Which one is right? Becker stated mortgage interest and real estate taxes are divided different than utilities or maintenance expense.

Thanks a lot guys!

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[Anonymous]

According to my trusty JK Lasser tax book this stems from a conflict between the IRS and the tax courts when it comes to mortgage and interest.

IRS says total days of rental/ total days of rental and personal use. Becker

The tax court says total days rented/ 365. Wiley

At work we go by the IRS. 🙂

[Author]

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